Cullen Capital Management LLC Makes New $128.35 Million Investment in Restaurant Brands International Inc. $QSR

Key Points

• Cullen Capital Management acquired 1.77 million shares of Restaurant Brands International, valued at approximately $128.35 million, giving it a 0.51% stake. Institutional investors and hedge funds collectively own 82.29% of QSR.
• Restaurant Brands International exceeded quarterly earnings expectations, reporting $1.07 in EPS versus the $1.04 consensus estimate, while revenue rose 4.6% year over year to $2.52 billion.
• The company declared a quarterly dividend of $0.65 per share, representing a $2.60 annualized payout and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $83.91.

Cullen Capital Management LLC acquired a new position in shares of Restaurant Brands International Inc. (NYSE:QSR - Free Report) TSE: QSR during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,770,095 shares of the restaurant operator's stock, valued at approximately $128,350,000. Cullen Capital Management LLC owned 0.51% of Restaurant Brands International at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Kiltearn Partners LLP acquired a new position in Restaurant Brands International during the 2nd quarter worth $3,654,000. Kendall Capital Management acquired a new stake in Restaurant Brands International in the 2nd quarter valued at about $946,000. Bank of New York Mellon Corp acquired a new stake in Restaurant Brands International in the 2nd quarter valued at about $78,678,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Restaurant Brands International in the 2nd quarter valued at about $13,758,000. Finally, Hardy Reed LLC purchased a new position in shares of Restaurant Brands International in the 2nd quarter valued at about $394,000. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Restaurant Brands International Stock Up 0.9%

QSR stock opened at $81.55 on Tuesday. The stock has a market cap of $28.48 billion, a P/E ratio of 21.92, a PEG ratio of 2.19 and a beta of 0.50. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 2.49. Restaurant Brands International Inc. has a twelve month low of $61.33 and a twelve month high of $81.96. The company's 50 day moving average is $74.63 and its two-hundred day moving average is $74.40.

Restaurant Brands International (NYSE:QSR - Get Free Report) TSE: QSR last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. Restaurant Brands International had a net margin of 13.12% and a return on equity of 33.43%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the business earned $0.94 EPS. Restaurant Brands International's revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts expect that Restaurant Brands International Inc. will post 4.03 earnings per share for the current fiscal year.

Restaurant Brands International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $2.60 annualized dividend and a dividend yield of 3.2%. Restaurant Brands International's dividend payout ratio (DPR) is presently 69.89%.

Analyst Ratings Changes

Several analysts recently weighed in on QSR shares. Barclays raised their target price on shares of Restaurant Brands International from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. CL King set a $80.00 price target on shares of Restaurant Brands International in a report on Monday, August 10th. Morgan Stanley increased their price objective on shares of Restaurant Brands International from $78.00 to $79.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. Scotiabank decreased their price objective on shares of Restaurant Brands International from $83.00 to $81.00 and set a "sector perform" rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Restaurant Brands International from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 12th. Sixteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Restaurant Brands International presently has an average rating of "Moderate Buy" and an average price target of $83.91.

Restaurant Brands International Company Profile

Restaurant Brands International Inc NYSE: QSR is a global quick-service restaurant company formed through the combination of established brands. The company's principal holdings include Burger King, Tim Hortons and Popeyes, each of which operates under its own brand identity and menu. Restaurant Brands International's business is centered on developing and expanding these franchised restaurant systems, supporting franchisees with brand management, supply chain coordination, and marketing programs.

RBI's restaurants offer a range of quick-service food and beverage products: Burger King is known for its flame-grilled hamburgers and sandwiches, Tim Hortons for coffee, baked goods and breakfast items, and Popeyes for Louisiana-style fried chicken and seafood.

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